Advent bought the drug producer in 2008 in a transaction worth over EUR120 million. The fund also owns the Regina Maria private healthcare provider and, on the segment of construction materials, owns Kai Ceramics, Deutek and Ceramica Iasi.
Labormed is in a tense situation because Stephen Stead, who had been the company’s CEO since 2008, stepped down from his position a week ago. Two months ago Stead had said that his company needed around EUR25 million from banks.
Labormed ranks 15 in the local drug industry, with sales of 233 million lei (EUR51 million) between July 2011 and June 2012, according to data of market research company Cegedim Romania.
Representatives of Advent had not made any comment by deadline.
(English version by Daniela Stoican)